A local investor/developer has purchased a 721sq m parcel of vacant land in Richmond, New South Wales, for $261,000 from Endeavour Energy.

Savills Australia’s Robert Lowe and Ray Trimboli were the appointed agents on 40 Bourke Street, Richmond, and said they received five offers on the property, highlighting the demand for quality assets in Western Sydney.

“We expected interest from local owner-occupiers, developers and entrepreneurial investors, who can capitalise on the extensive street frontage, but we also had local tenants looking to become owner-occupiers express interest.”

The rectangular-shaped land parcel is a former electrical substation site and adjoins the Richmond Golf Club.

Mr Lowe said the prime main-road positioning would suit childcare, community, education or recreational facilities.

Situated 65 kilometres west of the Sydney CBD, the property is within 60 metres of the East Richmond train station and 500 metres from the town’s retail and commercial hub.

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